The city was founded by Spanish explorers in 1571, but wasn't officially recognized until November 11, 1811. The city celebrates its independence day on November 10, commemorating the day the city definitively declared its independence from the Spanish.
Guaranda weathered earthquakes in 1674 and 1775, sustaining significant damage, but rebuilding both times. After the 1775 earthquake, it took almost four years to rebuild the city.
The city was declared an official Ecuadorian cultural center on October 23, 1997, reflecting the historic architecture of the urban center
